Ace investor Rakesh Jhunjhunwala's portfolio component Jubilant Ingrevia has delivered over 200% returns in last six months. The share of life sciences firm listed at Rs 258.35 on March 19, 2021. Jubilant Ingrevia share zoomed to an all-time high of Rs 781 today, translating into gain of 202.30% during the period. In comparison, Sensex clocked 18.48% returns since March 19 this year.
Jhunjhunwala held a total of over 1 crore shares or 6.29% stake in the firm at the end of June quarter this year. His wife Rekha Jhunjhunwala owned 25.20 lakh shares or 1.58% stake in the firm during last quarter.
Currently, Jubilant Ingrevia share trades at Rs 760.65, 2.69% higher against previous close of Rs 741.45 on BSE.
Market cap of the firm stood at Rs 12,377 crore on BSE. Total 1.63 lakh shares of Jubilant Ingrevia changed hands amounting to turnover of Rs 12.36 crore on BSE.
For the quarter ended June 2021, 104 FIIs held 18.70% stake or 2.97 crore shares in the firm. Four mutual funds owned 12.27 lakh shares amounting to 0.77% stake in the firm. Promoters' stake at the end of Q1 stood at 50.92% or 8.11 crore shares.
In June quarter, the firm reported a 258.04% rise in net profit at Rs 138.17 crore against Rs 38.59 crore profit in March quarter of last fiscal.
Sales rose 65.25% to Rs 1,105 crore in Q1 against Rs 668.93 crore in the previous quarter.
Earnings per share climbed to Rs 8.67 in June quarter against Rs 3.69 on a quarter on quarter basis. For FY21, the firm reported a strong set of earnings. Revenue growth was primarily driven by growth in volume and pricing together with capex amounting to Rs 122 crore in FY21, the company said.
Its gross debt reduced by Rs 747 crore in FY21 while net debt reduced by Rs 594 crore during FY21.
On March 19, Jhunjhunwala announced that persons acting in his concert have bought shares worth over Rs 3 lakh in the company raising his stake in the company to 6.23 percent of total paid-up capital.
Earlier, Jubilant Pharmova (previously called Jubilant Lifesciences) had allotted Jhunjhunwala nearly 97 lakh shares (6.04 percent stake) as a result of its composite scheme of arrangement.
Using this arrangement, Jubilant Lifesciences demerged its pharma and life sciences businesses. Its pharma business, Jubilant Pharmova is its current business and trades on the bourses. Its demerged life sciences business is now called Jubilant Ingrevia.
The company is a global integrated life science products and innovative solutions provider serving, pharmaceutical, nutrition, agrochemical, consumer and industrial customers among others.
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